Ruyi Australia Group, the local arm of Chinese textile giant Ruyi Group, has listed Western Victorian country estate Larundel, south of Ballarat.
Ruyi snapped up the 942 hectare holding in March, 2011, paying $13.07 million.
Larundel had been on the market for two years – the asking price starting at $20 million before being reduced to $14 million in 2010.
At 183 Orrells Road, Cargerie, the offering includes a sprawling 840 square metre mansion built by the Austin family in the 1850s with a billiard room, 4000 bottle wine cellar and conservatory.
Around the homestead is a two hectare garden designed by landscaper Paul Bangay, a tennis court, croquet lawn, lake, nine car garage and helipad with a hangar, refuelling facilities and an airstrip.
The estate also contains two on site residences as well as stables refurbished into high quality guest accommodation.
Larundel is renowned as a large scale, highly productive grazing and cropping enterprise – currently a noteworthy producer of ultra-fine merino wall and prime lamb production.
Operational infrastructure includes a five-stand shearing shed and yards, silos, machinery, hay and workshop sheds, with dry and ancillary storage.
Every paddock has a livestock shelter.
The Cargerie property has more than four kilometres of frontage to the Yarrowee and Leigh rivers, and two kilometres, to Williamson’s Creek.
CBRE’s Danny Thomas and Shane McIntyre are representing Ruyi Australia Group, a subsidiary of fashion and diversified investment house Ruyi Group, which four years ago snapped up an interest in the landmark Cubbie Station cotton farm at the Queensland-New South Wales border.
The agents are promoting that Larundel is suited for ongoing farming.
Alternatively it could be converted into a landmark prestige residential home, or conference centre with hotel.
The property is not being advertised with a guide price however, sources speculate, it is expected to sell for more than $20 million.
Cargerie is about 90 kilometres north west of the city and 35 kilometres from Ballarat.